With as many as 4 new IPOs opening up for subscription at the same time, the year 2020 is quickly shaping up to be a bumper year for the primary market. Exponentially rising investor interest is actually spurring companies to offer their shares up for public subscription. The latest IPO among this long and seemingly ever-growing list is that of Mazagon Docks Limited. Here’s everything that you should know about the upcoming Mazagon Docks Ltd IPO

About the company

Based in Mumbai, Mazagon Docks Limited was first incorporated in 1934 as a private limited company. It was subsequently taken over by the government of India in 1960 and has been one of the country’s leading shipbuilders ever since. Since the company comes under the control of the Ministry of Defence, it is closely involved in the construction and repair work of a wide range of naval vessels.  

In fact, the product portfolio of Mazagon Docks Ltd includes naval warships, naval submarines, and even merchant ships. As of 2020, the company has built a total of around 795 vessels. With respect to shipbuilding infrastructure, the facilities that Mazagon Docks Ltd possesses are nothing short of international standards. Such a strong position in this niche industry segment of shipbuilding gives the company great leverage.

To meet the government of India’s strategic divestment plan, the shares of Mazagon Docks Limited are now in the process of being offered to the public. With regard to this upcoming

IPO, the company has also filed a Draft Red Herring Prospectus (DRHP) with SEBI.

Details of the Mazagon Docks Limited IPO

Here’s an in-depth look at some of the important details of the Mazagon Docks IPO including the Mazagon Docks Ltd IPO date and the Mazagon Docks Ltd IPO issue size.

Mazagon Docks Limited IPO date

The Mazagon Docks IPO is slated to open up to the public for subscription on the 29th of September, 2020. As with most of the other upcoming IPOs, the Mazagon Docks Ltd IPO would also be open for 3 days, with the offer closing day being the 1st of October, 2020.

Mazagon Docks Limited IPO issue size

Since the Mazagon Docks IPO is a divestment drive from the government of India, the entire issue is a huge Offer for Sale (OFS). The government is planning to put up around 30,599,017 equity shares for sale through the OFS route of this new IPO. Furthermore, the Mazagon Docks Ltd IPO would come with a dedicated employee reservation portion as well. 

Mazagon Docks Limited IPO price band

The share price band of the Mazagon Docks IPO has not been divulged as of yet. But considering the fact that the face value of the equity shares of Mazagon Docks Limited is just Rs. 10 per share, the offer price of the Mazagon Docks Ltd IPO is likely to carry a significant premium over the face value. Additionally, the offer price of this latest IPO would also feature a discount for both retail category investors as well as eligible employees.

Mazagon Docks Limited IPO listing

Mazagon Docks Ltd has received in-principle approvals from both the Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE) with respect to the listing of its shares.

Now all you need, is an online demat account to invest in Mazagon Docks IPO and make the most of your investments!

 

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